Cardinal Health Q3 Revenues Up 1%
The company posted net earnings of $222.4m for the third quarter of fiscal 2010, or $0.61 per diluted share, compared to $312.9m, or $0.87 per diluted share, for the prior year period. Operating earnings were $366.3m, compared to $380.9m for the prior year period.
For the year-to-date 2010, the company has posted a net earnings of $418.7m, or $1.16 per diluted share, compared to $878.4m, or $2.43 per diluted share, for the same period in 2009. Revenue was $74.04 billion, compared to $71.64 billion for the year ago period.
Revenue for the Pharmaceutical segment increased to $22.2 billion. Revenue for the Medical segment increased 7 percent to $2.1 billion, primarily from sales growth with existing domestic customers and strong revenue growth from the Canadian business.
George Barrett, chairman and CEO of Cardinal Health, said: “We are pleased with our third-quarter performance and our continued momentum for the year. We had strong performance from our Pharmaceutical segment, which was better than we anticipated.
“Based on the progress we've made year-to-date, our preliminary view of fiscal 2011 non-GAAP diluted EPS from continuing operations is in the range of $2.35 to $2.45. We expect to provide more specifics for fiscal 2011 when we report fourth-quarter and full-year results.”
Will the company improve its net income in Q4?
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